Canada’s Economy To Follow US Downfall: Analysts

Contrary to what Finance Minister Jim Flaherty might think, there seems to be a great deal of interest in the national debt. Because talk of the debt in the budget speech was all but lost in the avalanche of “stimulus spending,” perhaps we can attempt to she some light on it, as well as the general state of the Canadian economy, and some future predictions.

Economics can often be more art than science, but we’ll try to deal give not-too-admittedly complicated answers to simple questions. Currently, Canadian National Debt is about $ 780 billion – a lot of dollars. And we are (and were) to pay interest on this debt at variable rates over the next 25 odd years overall, which works out to be about one thousand billion, or $1,000,000,000,000 one trillion (count them, 12 zeroes) in interest. Of this 1.6 trillion dollars of outstanding debt and interest already paid, only (maximum) 100 billion in recent years has ever been spent on actual programs of the Canadian government.
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“We’re very pessimistic, and we think there are going to be big issues in the Canadian real estate market,” Holly Allen, managing director for Price Waterhouse Cooper’s real estate practice in Canada said in an interview.
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